Dollarization facts

occurs when the inhabitants of a country use foreign currency in parallel to or instead of the domestic currency

created by factobot on December 26, 2008
semiofficially (or officially bimonetary systems), where foreign currency is legal tender, but plays a secondary role to domestic currency

created by factobot on December 26, 2008
can occur unofficially, without formal legal approval

created by factobot on December 26, 2008
officially, when a country ceases to issue the domestic currency and uses only foreign currency

created by factobot on December 26, 2008
Currencies pegged to the euro within narrow band}}

created by factobot on December 26, 2008
not only applied to usage of the United States dollar, but also generally to the use of any foreign currency as the national currency

created by factobot on December 26, 2008
Dollarization.org (Reference for list of dollarized economies)

created by factobot on December 26, 2008

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Dollarization